Optimal transmission switching: economic efficiency and market implications

Abstract

Optimal transmission switching, Financial transmission rights, Power generation dispatch, Power system economics, Power transmission economics, Revenue adequacy, L94,

Revenue Adequacy Constrained Optimal Transmission Switching

“…The concept of a dispatchable transmission network was investigated by [25]. Optimal transmission switching has been shown to produce substantial savings for various test cases, [8], [14]- [18], [26]. Even though this concept takes transmission lines temporarily out of service for economic gains, optimal transmission switching is not incompatible with reliable network operations.…”

“…If the solution is not revenue adequate, a cut is generated that will be applied to the master problem that makes that specific integer solution, i.e., that specific network topology, infeasible. The cut, (17), is based on the sets listed by (18) that are determined from the current master problem iteration.…”

“…Since FTR settlements are cleared over multiple periods, there is the potential that the revenue shortfall over such a longer horizon is minimal. Nevertheless, examples have shown that revenue inadequacy can still be severe over long horizons, see [18], and, thus, we are still presented with the challenge of dealing with revenue inadequacy resulting from optimal transmission switching.…”

“…As a result, this concept allows the operator to ensure revenue adequacy or, at least, limit the severity of revenue inadequacy, as shown by the use of δ in (16a). Furthermore, it is possible that the optimal network topology is revenue inadequate while there can be other topology solutions that are trivially more expensive but these topology solutions can have substantially different results regarding revenue adequacy, [18].…”

An Algorithm for Transmission Distance Relay Setting Calculation Under Network Topology Change

“…Furthermore, cascading events caused by different faults can cause multiple switching actions [6]. Different load shedding and switching cases are done to ensure the reliability of the protection system and power system stability, keep voltage within certain boundaries and reducing operating costs [7][8][9][10]. So that, alterations on the system topology raises the need of change the distance protection relay coordination settings [11][12][13][14].…”